1) An item of clothing which many people seem to have a complicated love/hate relationship with.
2) An ending to a sentence when you can't think of anything else to say, because you're tired or awkward, as opposed to trailing off and leaving an awkward silence.

1) This morning I felt like wearing pants, but right now my legs beg to be free!
2) "...And that's when I realized I'd known her all along but had forgotten her face... Erm, pants."